As of April 2023, the average transaction price of a new Buick vehicle stood at $38,427. However, the Tri-Shield brand’s ATP has declined on a year-over-year basis.
According to a report from Cox Automotive and Kelley Blue Book, the ATP for a Buick vehicle decreased 8.8 percent from April 2023 to $35,041 in April 2024. Meanwhile, the average transaction price fell 1.8 percent month-over-month from $35,684 per unit in March 2024.
This drop in Buick ATP is reflected by a year-over-year decline in transaction prices for parent company General Motors. When including all four of GM’s U.S.-market brands in the calculations – Chevy, Buick, Cadillac, and GMC – the ATP for a new GM vehicle was $51,869 in April 2024. This represents a 1.0-percent decrease as compared to the April 2023 figures, where GM’s ATP stood at $52,409 per vehicle. On a month-over-month comparison, General Motors’ average transaction prices rose 0.6 percent from $51,582 in March 2024, moderately outperforming the Tri-Shield brand.
Overall, the automotive industry recorded a 0.5-percent decline in ATPs year-over-year from $48,763 in April 2023 to $48,510 in April 2024. Meanwhile, ATPs jumped 2.2 percent month-over-month, where vehicles were selling for an average of $47,481 in March 2024.
“The month-over-month increase in pricing in April is likely just a reflection of some pullback on incentives compared to the end of Q1, in March when many automakers were pushing discounts to hit a strong finish to the quarter,” Cox Automotive Executive Analyst Eron Keating remarked. “Still, prices are down year over year. Affordability challenges continue to lurk, and as inventory slowly builds, we can expect to see incentives slowly grow through the remainder of 2024 to help keep any sales momentum alive.”
It’s worth noting that the report identified three factors that contributed to these changes in April 2024 ATP figures, including:
- Luxury vehicle share and prices pushed overall ATP higher
- Non-luxury vehicle prices jumped in April 2024, but remain lower year-over-year
- Tesla prices increased for the second consecutive month
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Comments
Well, there’s no way all the anti-EV people can come on this article and claim Buick’s ATP’s are down due to the EV’s. And they can’t come on here saying it’s because of being those darn sedans that nobody buys.
GM appears to be moving Buick away from the so called premium space with the introduction on Envista which looks very attractive but, without question, is a three cylinder economy car being sold cheaper than brands like Subaru or Honda. Encore, especially thus generation, is a vcd value offering that doesn’t compete with Lexus or Acura. Envision is fantastic but an inexpensive vehicle hence why it outsells all but one luxe brand.
I get the impression, with many dealers dropping Buick, that GM will offer Buick and Chevrolet like Hyundai and Kia. With 6 cars coming off the same line it must be profitable.
If I ran GM, with Cadillac so weak Buick with it’s new image would shift upmarket; however, theh don’t want my opinion.
Maybe if they offered more than 4 suv/cue’s there would be more interest in their product line. One built in US, one from China & two from South Korea.
They all look the same and the lineup is confusing.